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Interest income to be considered in aggregate turnover?


Darshit Rathod   19 January 2020

Darshit Rathod

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In GST audit weather we have to consider interest income in aggregate turnover?
weather we are required to report it in Form 9 table 5?

RAJA P M ("Do the Right Thing...!!!")     19 January 2020

RAJA P M
"Do the Right Thing...!!!" 
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Yes... If the income into the same Pan / gstin.

avater

Pankaj Rawat (GST Practitioner)     19 January 2020

Pankaj Rawat
GST Practitioner 
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Yes as such income is Exempted in GST (Noti.12/2017 CT r) but as per the Definition of Aggregate Turnover it includes Exempted incomes.

Note : Interest income does include to compute turnover in case of Composition dealer (Notification 1/2020 CT)

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